FTIL jumps on concluding revised tech deal with MCX

Financial Technologies (India) rose 7.37% to Rs 218.40 at 10:32 IST on BSE after the company said it concluded the renegotiation of technology supply agreement with MCX.

The announcement was made after market hours on Thursday, 25 September 2014.

Meanwhile, the BSE Sensex was down 19.80 points, or 0.07%, to 26,448.56.

On BSE, so far 1.36 lakh shares were traded in the counter, compared with an average volume of 3.44 lakh shares in the past one quarter.

The stock hit a high of Rs 222 and a low of Rs 198.30 so far during the day. The stock hit a 52-week high of Rs 403.60 on 10 March 2014. The stock hit a 52-week low of Rs 129.95 on 30 September 2013.

The stock had underperformed the market over the past one month till 25 September 2014, falling 25.39% compared with 0.12% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 21.36% as against Sensex's 4.56% rise.

The small-cap company has an equity capital of Rs 9.22 crore. Face value per share is Rs 2.

Financial Technologies (India) (FTIL) said that its board has approved master amendment to principal agreements to be entered into with MCX for continued provisions of software support & managed services on mutually agreed terms & conditions.

It is also to be noted that by entering into the above said agreement, the companies have completed all the condition precedents of share purchase agreement with Kotak Mahindra Bank as disclosed on 20 July 2014, FTIL said in a statement.

FTIL's net profit rose 57.93% to Rs 128.24 crore on 27.43% increase in total income to Rs 216.05 crore in Q1 June 2014 over Q1 June 2013.

FTIL is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets. It is a global leader in creating and operating next-generation tech centric financial exchanges.

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